UK gambling firms eye US expansion

UK gambling firms are looking across the Atlantic for expansion after the US Supreme Court made a landmark ruling that could allow states across the country to legalise sports betting.

In May, the Supreme Court decision both endorsed a 2014 New Jersey state court ruling that permitted sports betting at casinos and horse racing tracks within the state, and struck down a 1992 federal law banning sports gambling in general.

A number of US sports bodies, including the National Basketball Association (NBA) opposed the move as they argued that legalised sports betting could interfere with the integrity of their leagues and tournaments.

However, the Justices found that the legalisation of sports betting should be down to federal and state legislatures, as it is an “important policy choice” that should not be decided by the courts. Justice Samuel Alito wrote on behalf of the Supreme Court: “Congress can regulate sports gambling directly, but if it elects not to do so, each state is free to act on its own.”

The decision caused gambling stocks to surge, including those of UK-based William Hill and Paddy Power Betfair, that could reap the benefits of a liberalisation of sports betting in the US.